GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 1.89% against the USD and closed at 1.5128, as demand for the greenback decreased following comments by the Federal Reserve Chairman, Ben Bernanke that highly accommodative monetary policy would be needed for the foreseeable future.
In the Asian session, at GMT0300, the pair is trading at 1.5150, with the GBP trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 1.4944, and a fall through could take it to the next support level of 1.4739. The pair is expected to find its first resistance at 1.5275, and a rise through could take it to the next resistance level of 1.5401.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
